1.   In such transactions, traders borrow baht and immediately sell them, hoping to buy them back later at a weaker rate.

2.   That made it prohibitively expensive for foreign investors to borrow the baht they need in order to buy forward contracts on the currency.

3.   That made it prohibitively expensive for foreign investors to borrow the baht they need to buy forward contracts on the currency.

4.   In this attack, the speculators sold baht short for dollars, in anticipation that they could borrow baht later at a lower rate to make a profit.